Duncan’s Economic Blog

A Plea on Budget Reporting…

Posted in Uncategorized by duncanseconomicblog on April 22, 2009

… I hope I’ve made clear what I really want from the budget – a bigger stimulus. I won’t get it. So lets wait and see what we do get. I broadly agree with Don Paskini.

But in the meantime, a plea to Sky/the BBC etc. No doubt you’ll do that clever thing you did when broadcasting the PBR and show a live chart of the FTSE whilst Mr Darling is talking. You’ll then ‘measure the reaction of the markets’ as it goes up and down. You’ll ignore the fact that, as of 8.22 this morning, the European stock market is down about 0.40%, US futures are down 1.1% and China was down 4% over night. You’ll also ignore the fact that 30% of the FTSE is dependent on commodity prices rather than government action. You’ll get all excited if the FTSE goes up and even more excited if it falls. Please don’t.

If you must put up a chart, can we please have a chart of UK gilt yields? Where, you know, the price is more dependent upon what the government is actually doing? Pretty please?

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